The interest group theory of financial development in China: Openness and the role of interest groups
Author
Abstract
Suggested Citation
DOI: 10.1111/twec.12828
Download full text from publisher
References listed on IDEAS
- Chinn, Menzie D. & Ito, Hiro, 2006.
"What matters for financial development? Capital controls, institutions, and interactions,"
Journal of Development Economics, Elsevier, vol. 81(1), pages 163-192, October.
- Chinn,M.D. & Ito,H., 2005. "What matters for financial development? : capital controls, institutions, and interactions," Working papers 4, Wisconsin Madison - Social Systems.
- Chinn, Menzie David & Ito, Hiro, 2005. "What Matters for Financial Development? Capital Controls, Institutions, and Interactions," Santa Cruz Department of Economics, Working Paper Series qt5pv1j341, Department of Economics, UC Santa Cruz.
- Chinn, Menzie David & Ito, Hiro, 2005. "What Matters for Financial Development? Capital Controls, Institutions, and Interactions," Santa Cruz Center for International Economics, Working Paper Series qt5pv1j341, Center for International Economics, UC Santa Cruz.
- Menzie D. Chinn & Hiro Ito, 2005. "What Matters for Financial Development? Capital Controls, Institutions, and Interactions," NBER Working Papers 11370, National Bureau of Economic Research, Inc.
- M Ayhan Kose & Eswar Prasad & Kenneth Rogoff & Shang-Jin Wei, 2009.
"Financial Globalization: A Reappraisal,"
IMF Staff Papers, Palgrave Macmillan, vol. 56(1), pages 8-62, April.
- M. Ayhan Kose & Eswar Prasad & Kenneth Rogoff & Shang-Jin Wei, 2009. "Financial Globalization: A Reappraisal," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 56(2), pages 143-197.
- Mr. Ayhan Kose & Mr. Eswar S Prasad & Mr. Kenneth Rogoff & Shang-Jin Wei, 2006. "Financial Globalization: A Reappraisal," IMF Working Papers 2006/189, International Monetary Fund.
- Rogoff, Kenneth & Wei, Shang-Jin & Prasad, Eswar & Kose, M. Ayhan, 2006. "Financial Globalization: A Reappraisal," CEPR Discussion Papers 5842, C.E.P.R. Discussion Papers.
- M. Ayhan Kose & Eswar Prasad & Kenneth S. Rogoff & Shang-Jin Wei, 2006. "Financial Globalization: A Reappraisal," NBER Working Papers 12484, National Bureau of Economic Research, Inc.
- Feng Lu, Susan & Yao, Yang, 2009. "The Effectiveness of Law, Financial Development, and Economic Growth in an Economy of Financial Repression: Evidence from China," World Development, Elsevier, vol. 37(4), pages 763-777, April.
- Wei Huang, 2006. "Emerging Markets, Financial Openness and Financial Development," Bristol Economics Discussion Papers 06/588, School of Economics, University of Bristol, UK.
- Matias Braun & Claudio Raddatz, 2004.
"Trade liberalization and the politics of financial development,"
Working Papers
04-3, Federal Reserve Bank of Boston.
- Braun, Matias & Raddatz, Claudio, 2005. "Trade liberalization and the politics of financial development," Policy Research Working Paper Series 3517, The World Bank.
- Braun, Matias, 2004. "Trade Liberalization and the Politics of Financial Development," Santa Cruz Department of Economics, Working Paper Series qt70v7f9ff, Department of Economics, UC Santa Cruz.
- Ross Levine, 1997.
"Financial Development and Economic Growth: Views and Agenda,"
Journal of Economic Literature, American Economic Association, vol. 35(2), pages 688-726, June.
- Levine, Ross, 1996. "Financial development and economic growth : views and agenda," Policy Research Working Paper Series 1678, The World Bank.
- Sourafel Girma & Anja Shortland, 2008.
"The political economy of financial development,"
Oxford Economic Papers, Oxford University Press, vol. 60(4), pages 567-596, October.
- Sourafel Girma & Anja Shortland, 2004. "The Political Economy of Financial Development," Money Macro and Finance (MMF) Research Group Conference 2004 39, Money Macro and Finance Research Group.
- Sourafel Girma & Anja Shortland, 2004. "The Political Economy of Financial Development," Discussion Papers in Economics 04/21, Division of Economics, School of Business, University of Leicester, revised Oct 2004.
- Svaleryd, Helena & Vlachos, Jonas, 2002.
"Markets for risk and openness to trade: how are they related?,"
Journal of International Economics, Elsevier, vol. 57(2), pages 369-395, August.
- Svaleryd, Helena & Vlachos, Jonas, 1999. "Markets for Risk and Openness to Trade: How are they Related?," SSE/EFI Working Paper Series in Economics and Finance 327, Stockholm School of Economics, revised 28 Aug 2001.
- Asli Demeirgüç-Kunt & Ross Levine (ed.), 0. "Finance and Growth," Books, Edward Elgar Publishing, number 17119.
- Ross Levine & Norman Loayza & Thorsten Beck, 2002.
"Financial Intermediation and Growth: Causality and Causes,"
Central Banking, Analysis, and Economic Policies Book Series, in: Leonardo Hernández & Klaus Schmidt-Hebbel & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Se (ed.),Banking, Financial Integration, and International Crises, edition 1, volume 3, chapter 2, pages 031-084,
Central Bank of Chile.
- Levine, Ross & Loayza, Norman & Beck, Thorsten, 2000. "Financial intermediation and growth: Causality and causes," Journal of Monetary Economics, Elsevier, vol. 46(1), pages 31-77, August.
- Levine, Ross & Loayza, Norman & Beck, Thorsten, 1999. "Financial intermediation and growth : Causality and causes," Policy Research Working Paper Series 2059, The World Bank.
- Thorsten Beck & Ross Levine & Norman Loayza, 1999. "Financial Intermediation and Growth: Causality and Causes," Working Papers Central Bank of Chile 56, Central Bank of Chile.
- Loren Brandt & Xiaodong Zhu, 2000. "Redistribution in a Decentralized Economy: Growth and Inflation in China under Reform," Journal of Political Economy, University of Chicago Press, vol. 108(2), pages 422-451, April.
- Demetriades, Panicos O. & Hussein, Khaled A., 1996.
"Does financial development cause economic growth? Time-series evidence from 16 countries,"
Journal of Development Economics, Elsevier, vol. 51(2), pages 387-411, December.
- Panicos O. Demetriades & Khaled A.Hussein, 1995. "Does Financial Development Cause Economic Growth? Time-Series Evidence from 16 Countries," Keele Department of Economics Discussion Papers (1995-2001) 95/13, Department of Economics, Keele University.
- Mishkin, Frederic S., 2009. "Globalization and financial development," Journal of Development Economics, Elsevier, vol. 89(2), pages 164-169, July.
- Yongfu Huang & Jonathan Temple, 2005.
"Does external trade promote financial development?,"
Bristol Economics Discussion Papers
05/575, School of Economics, University of Bristol, UK.
- Temple, Jonathan & Huang, Yongfu, 2005. "Does External Trade Promote Financial Development?," CEPR Discussion Papers 5150, C.E.P.R. Discussion Papers.
- M Ayhan Kose & Eswar Prasad & Kenneth Rogoff & Shang-Jin Wei, 2009.
"Financial Globalization: A Reappraisal,"
IMF Staff Papers, Palgrave Macmillan, vol. 56(1), pages 8-62, April.
- M. Ayhan Kose & Eswar Prasad & Kenneth Rogoff & Shang-Jin Wei, 2009. "Financial Globalization: A Reappraisal," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 56(2), pages 143-197, June.
- Mr. Ayhan Kose & Mr. Eswar S Prasad & Mr. Kenneth Rogoff & Shang-Jin Wei, 2006. "Financial Globalization: A Reappraisal," IMF Working Papers 2006/189, International Monetary Fund.
- Rogoff, Kenneth & Wei, Shang-Jin & Prasad, Eswar & Kose, M. Ayhan, 2006. "Financial Globalization: A Reappraisal," CEPR Discussion Papers 5842, C.E.P.R. Discussion Papers.
- M. Ayhan Kose & Eswar Prasad & Kenneth S. Rogoff & Shang-Jin Wei, 2006. "Financial Globalization: A Reappraisal," NBER Working Papers 12484, National Bureau of Economic Research, Inc.
- Andrianova, Svetlana & Demetriades, Panicos & Shortland, Anja, 2008.
"Government ownership of banks, institutions, and financial development,"
Journal of Development Economics, Elsevier, vol. 85(1-2), pages 218-252, February.
- Svetlana Andrianova & Panicos Demetriades & Anja Shortland, 2002. "Government Ownership of Banks, Institutions, and Financial Development," Discussion Papers in Economics 02/13, Division of Economics, School of Business, University of Leicester, revised Aug 2006.
- Svetlana Andrianova & Panicos Demetriades & Anja Shortland, 2006. "Government Ownership of Banks, Institutions, and Financial Development," WEF Working Papers 0011, ESRC World Economy and Finance Research Programme, Birkbeck, University of London.
- Lane, Philip R. & Milesi-Ferretti, Gian Maria, 2007.
"The external wealth of nations mark II: Revised and extended estimates of foreign assets and liabilities, 1970-2004,"
Journal of International Economics, Elsevier, vol. 73(2), pages 223-250, November.
- Milesi-Ferretti, Gian Maria & Lane, Philip, 2006. "The External Wealth of Nations Mark II: Revised and Extended Estimates of Foreign Assets and Liabilities, 1970-2004," CEPR Discussion Papers 5644, C.E.P.R. Discussion Papers.
- Mr. Philip R. Lane & Mr. Gian M Milesi-Ferretti, 2006. "The External Wealth of Nations Mark II: Revised and Extended Estimates of Foreign Assets and Liabilities, 1970–2004," IMF Working Papers 2006/069, International Monetary Fund.
- Philip R. Lane & Gian Maria Milesi-Ferretti, 2006. "The External Wealth of Nations Mark II: Revised and Extended Estimates of Foreign Assets and Liabilities,1970–2004," The Institute for International Integration Studies Discussion Paper Series iiisdp126, IIIS.
- Beck, Thorsten & Levine, Ross & Loayza, Norman, 2000.
"Finance and the sources of growth,"
Journal of Financial Economics, Elsevier, vol. 58(1-2), pages 261-300.
- Beck,Thorsten & Levine,Ross Eric & Loayza,Norman V. & Beck, Thorsten*Levine, Ross*Loayza, Norman, 1999. "Finance and the sources of growth," Policy Research Working Paper Series 2057, The World Bank.
- Dong‐Hyeon Kim & Shu‐Chin Lin & Yu‐Bo Suen, 2011. "Nonlinearity between Trade Openness and Economic Development," Review of Development Economics, Wiley Blackwell, vol. 15(2), pages 279-292, May.
- Beck, Thorsten, 2002.
"Financial development and international trade: Is there a link?,"
Journal of International Economics, Elsevier, vol. 57(1), pages 107-131, June.
- Beck, Thorsten, 2001. "Financial development and international trade : is there a link?," Policy Research Working Paper Series 2608, The World Bank.
- Baltagi, Badi H. & Demetriades, Panicos O. & Law, Siong Hook, 2009.
"Financial development and openness: Evidence from panel data,"
Journal of Development Economics, Elsevier, vol. 89(2), pages 285-296, July.
- Badi H. Baltagi & Panicos O. Demetriades & Siong Hook Law, 2008. "Financial Development and Openness: Evidence from Panel Data," Center for Policy Research Working Papers 107, Center for Policy Research, Maxwell School, Syracuse University.
- Joshua Aizenman & Ilan Noy, 2009.
"Endogenous Financial and Trade Openness,"
Review of Development Economics, Wiley Blackwell, vol. 13(2), pages 175-189, May.
- Joshua Aizenman & Ilan Noy, 2004. "Endogenous Financial and Trade Openness," NBER Working Papers 10496, National Bureau of Economic Research, Inc.
- Guariglia, Alessandra & Poncet, Sandra, 2008.
"Could financial distortions be no impediment to economic growth after all? Evidence from China,"
Journal of Comparative Economics, Elsevier, vol. 36(4), pages 633-657, December.
- Alessandra Guariglia & Sandra Poncet, 2008. "Could financial distortions be no impediment to economic growth after all? Evidence from China," Post-Print hal-00649295, HAL.
- Alessandra Guariglia & Sandra Poncet, 2008. "Could financial distortions be no impediment to economic growth after all? Evidence from China," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00649295, HAL.
- Rajan, Raghuram G. & Zingales, Luigi, 2003. "The great reversals: the politics of financial development in the twentieth century," Journal of Financial Economics, Elsevier, vol. 69(1), pages 5-50, July.
- Hauner, David & Prati, Alessandro & Bircan, Cagatay, 2013. "The interest group theory of financial development: Evidence from regulation," Journal of Banking & Finance, Elsevier, vol. 37(3), pages 895-906.
- Ross Levine, 2001. "International Financial Liberalization and Economic Growth," Review of International Economics, Wiley Blackwell, vol. 9(4), pages 688-702, November.
- Ali F. Darrat & Khaled Elkhal & Brent McCallum, 2006. "Finance and Macroeconomic Performance. Some Evidence for Emerging Markets," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 42(3), pages 5-28, May.
- Siong Hook Law, 2009. "Trade Openness, Capital Flows and Financial Development in Developing Economies," International Economic Journal, Taylor & Francis Journals, vol. 23(3), pages 409-426.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Emmanuel, Ongo Nkoa Bruno & Thierry, Mamadou Asngar & Christian, Atangana Zambo Charles & Ludé, Djam'Angai, 2024. "What drives financial market growth in Africa?," International Review of Financial Analysis, Elsevier, vol. 91(C).
- Zhu, Chaowei & Zhang, Fan & Zhang, Yuling, 2023. "Revisiting financial opening and financial development: A regulation heterogeneity perspective," Economic Analysis and Policy, Elsevier, vol. 80(C), pages 181-197.
- Asngar, Thierry Mamadou & Nkoa, Bruno Emmanuel Ongo & Zambo, Charles Christian Atangana, 2022. "Does colonisation explain the low level of growth in African financial markets?," Economic Systems, Elsevier, vol. 46(3).
- Lin Zhu & Fan Dong & Liangwen Hu, 2023. "Mechanisms of How Private Equity Drives Industrial Upgrade: An Empirical Study Based on China’s Panel Data," Sustainability, MDPI, vol. 15(3), pages 1-15, January.
- Bruno Emmanuel Ongo Nkoa & Thierry Mamadou Asngar & Charles Christian Atangana Zambo & Donald Ferdinand Okere Atanga, 2023. "Does institutional quality accelerate the growth of financial markets in Africa?," SN Business & Economics, Springer, vol. 3(4), pages 1-26, April.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Zhang, Chengsi & Zhu, Yueteng & Lu, Zhe, 2015. "Trade openness, financial openness, and financial development in China," Journal of International Money and Finance, Elsevier, vol. 59(C), pages 287-309.
- Jean-Pierre Allegret & Sana Azzabi, 2014.
"Intégration financière internationale et croissance économique dans les pays émergents et en développement : le canal du développement financier,"
Revue d’économie du développement, De Boeck Université, vol. 22(3), pages 27-68.
- Jean-Pierre Allegret & Sana Azzabi, 2014. "Intégration financière internationale et croissance économique dans les pays émergents et en développement : le canal du développement financier," Post-Print hal-01385944, HAL.
- Mohammed Ahmed, Abdullahi, 2019. "Financial Development and Central Bank Bilateral Currency Swaps: Is there Trade Effect?," MPRA Paper 109875, University Library of Munich, Germany, revised 05 Aug 2019.
- Ho, Sin-Yu & Njindan Iyke, Bernard, 2018. "Short- and Long-term Impact of Trade Openness on Financial Development in Sub-Saharan Africa," MPRA Paper 84272, University Library of Munich, Germany.
- Siong Law & W. Azman-Saini, 2012. "Institutional quality, governance, and financial development," Economics of Governance, Springer, vol. 13(3), pages 217-236, September.
- Nasreen, Samia & Mahalik, Mantu Kumar & Shahbaz, Muhammad & Abbas, Qaisar, 2020.
"How do financial globalization, institutions and economic growth impact financial sector development in European countries?,"
Research in International Business and Finance, Elsevier, vol. 54(C).
- Nasreen, Samia & Mahalik, Mantu Kumar & Shahbaz, Muhammad & Abbas, Qaisar, 2020. "How Do Financial Globalization, Institutions and Economic Growth Impact Financial Sector Development in European Countries?," MPRA Paper 100457, University Library of Munich, Germany, revised 16 May 2020.
- Fu, Junhui & Liu, Yufang & Chen, Rongda & Yu, Xiaojian & Tang, Wen, 2020. "Trade openness, internet finance development and banking sector development in China," Economic Modelling, Elsevier, vol. 91(C), pages 670-678.
- Jawad Ahmad & Sania Zehraa & Noor Jehan, 2018. "Can Openness Hypothesis Improve Political Economy of Pakistans Financial Market?," Global Economics Review, Humanity Only, vol. 3(1), pages 56-65, June.
- Jawad Ahmad & Sania Zehraa & Noor Jehan, 2018. "Can Openness Hypothesis Improve Political Economy of Pakistans Financial Market?," Global Political Review, Humanity Only, vol. 3(1), pages 56-65, June.
- Muhammad Shahbaz & Hrushikesh Mallick & Mantu Kumar Mahalik & Shawkat Hammoudeh, 2018.
"Is globalization detrimental to financial development? Further evidence from a very large emerging economy with significant orientation towards policies,"
Applied Economics, Taylor & Francis Journals, vol. 50(6), pages 574-595, February.
- Shahbaz, Muhammad & Mallick, Hrushikesh & Kumar, Mantu & Hammoudeh, Shawkat, 2017. "Is globalization detrimental to financial development? Further evidence from a very large emerging economy with significant orientation towards policies," MPRA Paper 78805, University Library of Munich, Germany, revised 24 Apr 2017.
- Chris Doucouliagos & Jakob de Haan & Jan-Egbert Sturm, 2022.
"What drives financial development? A Meta-regression analysis [A new database of financial reforms],"
Oxford Economic Papers, Oxford University Press, vol. 74(3), pages 840-868.
- Chris Doucouliagos & Jakob de Haan & Jan-Egbert Sturm, 2020. "What Drives Financial Development? A Meta-Regression Analysis," CESifo Working Paper Series 8356, CESifo.
- Sèna Kimm Gnangnon, 2019. "Effect of Export Upgrading on Financial Development," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 10(03), pages 1-37, October.
- Bos, J.W.B. & Economidou, C. & Zhang, L., 2011. "Specialization in the presence of trade and financial integration: explorations of the integration-specialization nexus," Research Memorandum 026, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
- Becerra, O. & Cavallo, E. & Scartascini, C., 2012.
"The politics of financial development: The role of interest groups and government capabilities,"
Journal of Banking & Finance, Elsevier, vol. 36(3), pages 626-643.
- Oscar Becerra & Eduardo Cavallo & Carlos Scartascini, 2010. "The Politics of Financial Development - The Role of Interest Groups and Government Capabilities," Research Department Publications 4686, Inter-American Development Bank, Research Department.
- Becerra, Oscar & Cavallo, Eduardo A. & Scartascini, Carlos, 2010. "The Politics of Financial Development: The Role of Interest Groups and Government Capabilities," IDB Publications (Working Papers) 1980, Inter-American Development Bank.
- Baltagi, Badi H. & Demetriades, Panicos O. & Law, Siong Hook, 2009.
"Financial development and openness: Evidence from panel data,"
Journal of Development Economics, Elsevier, vol. 89(2), pages 285-296, July.
- Badi H. Baltagi & Panicos O. Demetriades & Siong Hook Law, 2008. "Financial Development and Openness: Evidence from Panel Data," Center for Policy Research Working Papers 107, Center for Policy Research, Maxwell School, Syracuse University.
- Ang, James B. & Kumar, Sanjesh, 2014. "Financial development and barriers to the cross-border diffusion of financial innovation," Journal of Banking & Finance, Elsevier, vol. 39(C), pages 43-56.
- Raja Almarzoqi & Sami Ben Naceur & Akshay Kotak, 2015. "What Matters for Financial Development and Stability?," IMF Working Papers 2015/173, International Monetary Fund.
- Kizito Uyi Ehigiamusoe & Hooi Hooi Lean, 2018. "Tripartite Analysis of Financial Development, Trade Openness and Economic Growth: Evidence from Ghana, Nigeria and South Africa," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 12(2), June.
- Mohammed Ahmed, Abdullahi, 2019. "China’s Bilateral Currency Swap Agreement: Strategic Move to Foster Political and Financial Hegemony," MPRA Paper 109879, University Library of Munich, Germany, revised 08 Oct 2019.
- Law, Siong Hook & Singh, Nirvikar, 2014.
"Does too much finance harm economic growth?,"
Journal of Banking & Finance, Elsevier, vol. 41(C), pages 36-44.
- Law, Siong Hook & Singh, Nirvikar, 2014. "Does too much finance harm economic growth?," Santa Cruz Department of Economics, Working Paper Series qt9z21r44x, Department of Economics, UC Santa Cruz.
Corrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:worlde:v:43:y:2020:i:4:p:982-999. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0378-5920 .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.